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Company News

Mergers and Acquisitions

  • Ecolab bought Champion Technologies, a global provider of energy specialty products and services to oil and gas producers, and its related company Corsicana Technologies for approximately USD 2.3 billion to form a new business called Nalco Champion. The acquisition will enhance and strengthen the firm’s technology capabilities with a research department focused on developing breakthrough innovations at 12 technology centers.
  • Schlumberger will pay USD 90 million to form a joint venture with Forest Oil to develop Forest’s Eagle Ford acreage in south Texas. Schlumberger will share a 50% working interest in Forest’s new mineral rights acreage.
  • Midstates Petroleum will buy approximately 140,000 net acres of Anadarko basin assets in Texas and Oklahoma from Panther Energy for USD 620 million. This will add approximately 36.4 million BOE proved reserves that are 45% oil and 21% natural gas and increase the net current daily production by approximately 8,000 BOEPD.
  • Penn Virginia will acquire 19,000 net acres in the Eagle Ford Shale from Magnum Hunter Resources for approximately USD 400 million. The acquisition includes 43 producing wells and 345 potential drill sites in Gonzales and Lavaca counties, Texas. It currently produces 3,000 BOEPD and has an additional estimated 12 million BOE proved reserves.
  • Lukoil bought Samara-Nafta, a subsidiary of Hess, for USD 2.05 billion. Samara-Nafta currently produces 50,000 BOEPD in Russia’s Volga-Urals region and is estimated to possess 86 million tons of oil reserves.
  • Centrica will acquire Suncor Energy’s natural gas and crude oil assets in Canada for USD 986 million. The assets will be jointly owned by Centrica (60%) and Qatar Petroleum (40%) with Centrica acting as the operator. The venture is forecast to produce 15 million BOE per year.
  • Energy & Exploration Partners acquired 57,275 net acres and 11 producing wells in the Woodbine/Eagle Ford play from Chesapeake Energy. The company plans to begin a two-rig drilling program on the acquired acreage.
  • Statoil will create a joint venture with SOCAR to explore and develop two new offshore blocks—Zafar and Mashal—in the Caspian Sea. The new blocks are estimated to hold approximately 140 million metric tons of oil.
  • Gazprom and Royal Dutch Shell have entered into a 50/50 joint agreement to explore and produce offshore hydrocarbon resources in the Russian Arctic. The venture will explore and produce shale oil in the Khanty-Mansiysk region of western Siberia.
  • RPS Group acquired Knowledge Reservoir for USD 20 million to create a larger geoscience and engineering consulting group called RPS Knowledge Reservoir. The new company will be better equipped to meet the needs of complex, multidisciplinary exploration and production projects on a global level.

Company Moves

  • Proserv launched a global research and development hub in Norway to design subsea controls and communications technologies in support of its subsea production systems business. The facility boasts 1100 m² of office space, a 500-m2 advanced electronics workshop, and a technology showroom for demonstrations.


  • Queiroz Galvão Exploração e Produção awarded a USD-10-million contract to Expro to provide heavy oil well testing to post-salt wells and data management services in support of an offshore project in Latin America. Expro will provide subsea equipment, drillstem testing, surface well testing, fluids services, wireline intervention services, and data acquisition.
  • Ophir Energy awarded a contract to Stena Drilling to drill the Starfish prospect in the deep waters of eastern Ghana. Starfish is expected to target prospective resources in the amount of 500 million B/D. Ophir (20%) is the operator in partnership with Afex Oil (20%), Vitol Upstream (30%), Rialto Energy (12.5%), and Tap Oil (17.5%).
  • Statoil awarded FMC Technologies a USD-96-million contract to supply the Smørbukk South extension project in the Norwegian Sea with several subsea components including subsea trees, wellheads, a manifold, control systems, and other associated equipment.
  • Zakum Development awarded a USD-3.7-billion engineering, procurement, construction transportation, and commission contract to a Petrofac-led consortium for the development of the Upper Zakum, UZ750 field in Abu Dhabi.
  • Petrobras awarded Subsea 7 a USD‑350-million contract for the operation of the Pipe Lay Support Vessel Kommandor 3000. The contract includes the project management, engineering, and installation of Petrobras-supplied flexible lines and equipment.
  • PNBV awarded Technip, leader of a 50/50 consortium with Techint, a contract for the construction, integration, and commissioning of a P-76 floating production, storage, and offloading unit. The unit will produce 180,000 B/D in the Santos basin pre-salt area offshore Rio de Janeiro.
  • Egypt Natural Gas awarded eight USD-1.2-billion oil and gas prospection projects in the Mediterranean Sea to BP, Petroceltic International, Eni SpA, Edison, IEOC, Sea Dragon Energy, Gas PJSC, and Pura Vida Energy NL. A minimum of 18 wells will be drilled, and the companies will pay USD 73.2 million for the licenses.